Regulatory Alerts2021-06-21
Bank of Israel Circular on Outsourcing and Consumer Credit Marketing
The Bank of Israel issued Circular C-06-2660 to amend Proper Conduct of Banking Business Directive no. 359A regarding outsourcing principles. The update removes the prohibition on proactive credit referrals by allowing banks to contact households, provided they comply with the new Consumer Credit Management Directive no. 311A. These amendments entered into effect upon publication to align banking practices with current credit data registers and marketing regulations.
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